Tax-loss harvesting alternatives for NFLX

Among the 11 Movies & Entertainment peers screened, SPOT (Spotify Technology) has tracked NFLX most closely over the past year, with a return correlation of 0.41. The strongest fund stand-in is XLC (Communication Services SPDR) at 0.41 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
SPOT	Spotify Technology	Movies & Entertainment	0.41	0.47	0.54	0.48
PSKY	Paramount Skydance	Movies & Entertainment	0.31	0.08	0.23	0.18
DIS	Walt Disney Co.	Movies & Entertainment	0.30	0.25	0.42	0.33
WMG	Warner Music Group	Movies & Entertainment	0.28	0.22	0.31	0.29
CNK	Cinemark Holdings, Inc.	Movies & Entertainment	0.22	0.14	0.27	0.16
TKO	TKO Group Holdings	Movies & Entertainment	0.22	0.24	0.22	0.25
ROKU	Roku Inc.	Movies & Entertainment	0.21	0.25	0.40	0.38
LYV	Live Nation Entertainment	Movies & Entertainment	0.18	0.26	0.34	0.27
SPHR	Sphere Entertainment	Movies & Entertainment	0.10	0.14	0.19	0.13
MSGS	Madison Square Garden Sports Corp.	Movies & Entertainment	0.06	0.13	0.18	0.20
WBD	Warner Bros. Discovery	Movies & Entertainment	-0.03	0.11	0.26	0.20

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
XLC	Communication Services SPDR	Comm Services Sector	SECTOR	0.41	0.47	0.59	0.60
VOX	Vanguard Communication Services	Comm Services Sector	SECTOR	0.35	0.44	0.57	0.54
FCOM	Fidelity MSCI Communication Services	Comm Services Sector	SECTOR	0.35	0.44	0.57	0.52
SOCL	Global X Social Media ETF	Social Media	SUB-IND	0.24	0.33	0.47	0.49
HERO	Global X Video Games & Esports	Gaming & Esports	SUB-IND	0.22	0.31	0.43	0.45
ESPO	VanEck Video Gaming & eSports	Gaming & Esports	SUB-IND	0.22	0.36	0.48	0.51
IVV	iShares Core S&P 500	S&P 500	BROAD	0.12	0.36	0.47	0.47
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.11	0.35	0.47	0.47
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	0.11	0.35	0.47	0.47
QQQ	Invesco QQQ Trust	Nasdaq 100	BROAD	0.05	0.36	0.51	0.56
QQQM	Invesco Nasdaq 100 ETF	Nasdaq 100	BROAD	0.05	0.36	0.51	—
IYZ	iShares US Telecommunications ETF	Telecom	INDUSTRY	0.02	0.17	0.34	0.34

NEXT STEPS

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Replacement research for NFLX's peers

SPOT PSKY DIS WMG CNK TKO ROKU LYV SPHR MSGS WBD

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.